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A Goodwin type cyclical growth model with two-time delays

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  • Sportelli, Mario
  • De Cesare, Luigi

Abstract

In this paper, we reconsider the Goodwin 1967 growth-cycle model, where the antagonistic relationship between wages and profits is assimilated to the prey-predator conflict modeled by Volterra in 1931.

Suggested Citation

  • Sportelli, Mario & De Cesare, Luigi, 2022. "A Goodwin type cyclical growth model with two-time delays," Structural Change and Economic Dynamics, Elsevier, vol. 61(C), pages 95-102.
    • Handle: RePEc:eee:streco:v:61:y:2022:i:c:p:95-102
    DOI: 10.1016/j.strueco.2022.02.002
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    References listed on IDEAS

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    7. Veneziani, Roberto & Mohun, Simon, 2006. "Structural stability and Goodwin's growth cycle," Structural Change and Economic Dynamics, Elsevier, vol. 17(4), pages 437-451, December.
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    Cited by:

    1. Ma, Yuanyuan & Dong, Nan & Liu, Na & Xie, Leilei, 2022. "Spatiotemporal and bifurcation characteristics of a nonlinear prey-predator model," Chaos, Solitons & Fractals, Elsevier, vol. 165(P2).

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    More about this item

    Keywords

    Growth cycle; Delayed investments; Stability switch; Hopf bifurcation; DDEs;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • C65 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Miscellaneous Mathematical Tools

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